Cognyte Software (NASDAQ:CGNT) Lifted to “Strong-Buy” at StockNews.com

Cognyte Software (NASDAQ:CGNT) was upgraded by research analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a research note issued on Thursday.

A number of other brokerages have also recently weighed in on CGNT. Wedbush upped their price target on Cognyte Software from $8.00 to $9.00 and gave the company a “neutral” rating in a research report on Thursday, June 20th. Needham & Company LLC reaffirmed a “hold” rating on shares of Cognyte Software in a report on Tuesday, September 10th.

Cognyte Software Stock Performance

Shares of CGNT stock opened at $6.72 on Thursday. The firm has a fifty day moving average of $7.34 and a 200-day moving average of $7.47. Cognyte Software has a 52-week low of $4.00 and a 52-week high of $8.70. The stock has a market cap of $477.27 million, a price-to-earnings ratio of -39.53 and a beta of 1.74.

Cognyte Software (NASDAQ:CGNT) last announced its quarterly earnings results on Tuesday, September 10th. The medical device company reported $0.05 EPS for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.07. The firm had revenue of $84.40 million during the quarter, compared to analysts’ expectations of $83.69 million. Cognyte Software had a negative net margin of 1.35% and a negative return on equity of 2.56%. The company’s revenue for the quarter was up 9.5% compared to the same quarter last year. During the same quarter last year, the company earned ($0.11) earnings per share. On average, sell-side analysts predict that Cognyte Software will post -0.31 earnings per share for the current year.

Insider Buying and Selling

In other Cognyte Software news, major shareholder Topline Capital Partners, Lp acquired 553,591 shares of the business’s stock in a transaction on Wednesday, September 11th. The stock was purchased at an average price of $6.31 per share, for a total transaction of $3,493,159.21. Following the transaction, the insider now owns 8,604,144 shares in the company, valued at approximately $54,292,148.64. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, insider Topline Capital Management, Ll bought 416,040 shares of Cognyte Software stock in a transaction dated Thursday, September 12th. The shares were bought at an average cost of $6.30 per share, for a total transaction of $2,621,052.00. Following the completion of the transaction, the insider now owns 9,020,184 shares of the company’s stock, valued at $56,827,159.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Topline Capital Partners, Lp purchased 553,591 shares of the firm’s stock in a transaction dated Wednesday, September 11th. The shares were bought at an average cost of $6.31 per share, for a total transaction of $3,493,159.21. Following the completion of the purchase, the insider now directly owns 8,604,144 shares of the company’s stock, valued at $54,292,148.64. The disclosure for this purchase can be found here. 62.70% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. G2 Investment Partners Management LLC increased its stake in shares of Cognyte Software by 241.5% in the 4th quarter. G2 Investment Partners Management LLC now owns 1,366,163 shares of the medical device company’s stock valued at $8,784,000 after buying an additional 966,163 shares during the period. Acadian Asset Management LLC raised its holdings in Cognyte Software by 30.3% during the 1st quarter. Acadian Asset Management LLC now owns 2,304,970 shares of the medical device company’s stock worth $19,041,000 after purchasing an additional 536,393 shares during the last quarter. Scalar Gauge Management LLC bought a new stake in Cognyte Software during the 4th quarter worth about $2,001,000. Perigon Wealth Management LLC acquired a new position in Cognyte Software during the 1st quarter valued at about $811,000. Finally, IQ EQ FUND MANAGEMENT IRELAND Ltd bought a new position in shares of Cognyte Software in the 2nd quarter valued at about $586,000. Institutional investors and hedge funds own 72.92% of the company’s stock.

Cognyte Software Company Profile

Cognyte Software Ltd. provides an investigative analytics software to governments and enterprises worldwide. Its Actionable Intelligence for a Safer World, an open software designed to help governments and enterprises accelerate and enhance the effectiveness of investigations. The company offers network intelligence analytics, threat intelligence analytics, decision intelligence analytics, and operational intelligence analytics solutions.